Boston Energy Trading and Marketing (BETM) is a wholly-owned subsidiary of Mitsubishi Corporation, a global integrated business enterprise that develops and operates businesses across virtually every industry. Mitsubishi’s current activities have expanded far beyond its traditional trading operations to include investments and business management across the North American energy value chain.
Boston Energy Trading and Marketing provides asset management & optimization services to owners of generation and energy storage in North America, and wholesale energy to retail power & gas suppliers. Our proprietary traders cover competitive power markets including New England, Midwest and Western markets. BETM has been optimizing our customers’ generation assets for over 15 years. Our current organization has its roots in Citizens Power, dating back to 1989 when Citizens obtained the first FERC power marketing license and market-based-rate authorization. Mitsubishi’s Diamond Generating acquired BETM from NRG Energy in August 2018, and prior to 2014 BETM was known as Edison Mission Marketing and Trading. Mitsubishi's provides BETM with investment-grade credit support for BETM’s commercial activities.
The role of the FTR Production Cost Modeler is research and modelling of supply and demand fundamentals in order to uncover insights in grid congestion in nodal Independent System Operator (ISO) markets. BETM participates in all nodal power markets, with a focus on congestion trading and near-term futures markets. The FTR Production Cost Modeler will work closely with a team of energy trading professionals from diverse backgrounds that include electrical engineering, economics, operations research, physics, public policy and business. As a top trading shop in electricity markets that are very technical and dynamic, Boston Energy Trading and Marketing (BETM) is an ideal place to learn and see real world trading and energy markets in action.
Essential Duties & Responsibilities
The candidate is someone with very strong quantitative and research skills, who is looking to work in a small, dynamic environment where their efforts are directly tied to commercial decisions and outcomes. The candidate should be extremely adept at communicating information and analyses transparently. They should be comfortable making hypotheses and judgments from incomplete information and learning from that experience.
The FTR Production Cost Modeler will build and manage models using Dayzer and Tranzer in order to analyze the impact of renewable generation projects, power flows in electric grids, predict electricity market prices and identify potential trading opportunities. Experience with Production Cost Models and modeling tools (such as DAYZER , PROMOD, PLEXOS, Aurora etc.) is required. Optimal Power Flow (OPF) experience and tool use is desirable (such as PowerWorld, Panorama, UPLAN, Energy Velocity, GridView, GE MAPS, etc.)
The candidate would take a cross-ISO approach to maintaining the production cost models, developing portable approaches to inputs such as fuel costs, renewable generation and generator behavior. A strong focus on renewable generation is desirable. Taking a deep dive into each ISO and working with the market analyst for that ISO, the candidate would take a project-based approach in order to make meaningful progress on the most difficult modeling challenges.
The analyst would ideally also be self-sufficient in accessing, managing and dissecting voluminous data on the power markets and constantly improving and calibrating our modelling efforts to track real world electric grid fundamentals. Attention to detail and model quality is paramount. Experience with industry standard data tools such as YES Energy, Genscape/WoodMac or Panorama is desirable.
Reports to: Vice President, Marketing and Congestion
Task/Responsibilities may include:
- Maintaining the Production Cost Models with market and in-house views.
- Overseeing the daily backcast process ensuring appropriate weather and fuel inputs and integrating Market Analyst feedback on outages and topology.
- Working with ISO-specific traders and analysts to efficiently integrate the in-house market-specific views.
- Performing scenario analyses: efficiently specify, calculate and aggregate model scenarios to characterize input sensitivities.
- Developing new approaches to modeling batteries as well as emerging load and generation patterns.
- Developing tools to detect and characterize changes in unit and load behavior and characteristics.
- Develop and maintain codebase for automated reporting, charting, and/or dashboard tools that communicate market insights, risks, and opportunities.
- Performing general quantitative analyses and econometric studies of energy markets and new electric generation and transmission projects.
- Data mining and analysis to identify commercial opportunities.
Minimum Requirements
- Bachelor's degree in Mathematics, Economics or related quantitative discipline.
- Minimum of one (1) year of experience in electricity markets in a consulting, commercial, engineering role or experience at an ISO.
- Team-oriented and collaborative.
- Must be effective working in a fast-paced team environment, and able to see any project through to completion.
- Competent programming skills including at least 3 years’ experience with numerical Python.
Preferred Requirements
- Masters or PhD in Electrical Engineering, Economics, Mathematics, Physics or other quantitative discipline.
- Proficiency with programming tools & quantitative modeling analytics using Python, Visual Basic, Matlab, R and SQL or other analytical tools is strongly desired.
- Strong quantitative and analytics background, including advanced-level skillset in simulation, optimization, statistics, options pricing theory
- Proficiency with data science, machine learning and techniques such as regression & classification
- Experience with databases & warehouses such as Snowflake or MS SQL Server
- Exposure to industry data platforms such as YES Energy, Genscape/Wood Mackenzie, Enverus
- Experience with business intelligence and data analytics tools such as Tableau/PowerBI
- Familiarity with unit testing, source control, code review
